Download or read book Informed Insurance Choice written by Leander D. Loacker and published by Edward Elgar Publishing. This book was released on 2015-04-30 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: The direction and clarity of the author's argument is commendably clear. Thus it is clear at the outset that he is mainly concerned with pre-contractual information duties as they affect consumers, and thus standard form contracts¢although, he argu
Download or read book Informed Insurance Choice written by Leander D. Loacker and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Informed Choice written by Reeta Sinha and published by . This book was released on 1988 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Developing an Information Infrastructure for the Medicare Choice Program written by Institute of Medicine and published by National Academies Press. This book was released on 1999-03-09 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: On March 4 and 5, 1998, the Institute of Medicine (IOM) Committee on Choice and Managed Care held a 2-day workshop entitled Developing the Information Infrastructure for Medicare Beneficiaries. This workshop was a follow-up to the IOM report entitled Improving the Medicare Market: Adding Choice and Protections. The workshop focused on the Medicare provisions in the Balanced Budget Act of 1997, which mandate that the Health Care Financing Administration (HCFA) develop a "nationally coordinated education and publicity campaign" in 1998 and move Medicare beneficiaries to an open-season enrollment process by the year 2002.
Download or read book Information Frictions and Adverse Selection written by Benjamin R. Handel and published by . This book was released on 2015 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: A large literature has analyzed pricing inefficiencies in health insurance markets due to adverse selection, typically assuming informed, active consumers on the demand side of the market. However, recent evidence suggests that many consumers have information frictions that lead to suboptimal health plan choices. As a result, policies such as information provision, plan recommendations, and smart defaults to improve consumer choices are being implemented in many applied contexts. In this paper we develop a general framework to study insurance market equilibrium and evaluate policy interventions in the presence of choice frictions. Friction-reducing policies can increase welfare by facilitating better matches between consumers and plans, but can decrease welfare by increasing the correlation between willingness-to-pay and costs, exacerbating adverse selection. We identify relationships between the underlying distributions of consumer (i) costs (ii) surplus from risk protection and (iii) choice frictions that determine whether friction-reducing policies will be on net welfare increasing or reducing. We extend the analysis to study how policies to improve consumer choices interact with the supply-side policy of risk-adjustment transfers and show that the effectiveness of the latter policy can have important implications for the effectiveness of the former. We implement the model empirically using proprietary data on insurance choices, utilization, and consumer information from a large firm. We leverage structural estimates from prior work with these data and highlight how the model's micro-foundations can be estimated in practice. In our specific setting, we find that friction-reducing policies exacerbate adverse selection, essentially leading to the market fully unraveling, and reduce welfare. Risk-adjustment transfers are complementary, substantially mitigating the negative impact of friction-reducing policies, but having little effect in their absence.
Download or read book Improving the Medicare Market written by Institute of Medicine and published by National Academies Press. This book was released on 1996-11-01 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Medicare beneficiaries are rapidly moving into managed care, as attempts to restrain the growth of this costly entitlement program progress. However, advocates for patients question whether the necessary information and structures are in place to enable Medicare consumers to select wisely among private-sector managed care options. Improving the Medicare Market examines how to give Medicare beneficiaries the same choice of health plan options enjoyed in the private sectorâ€"yet protect them as consumers and patients. This book recommends approaches to ensuring accountability and informed purchasing for Medicare beneficiaries in an environment of broader choice and managed careâ€"how the government should evaluate and approve plans, what role the traditional Medicare program should play, how to help to elderly understand their options, and many other practical matters. The committee discusses the information requirements of Medicare beneficiaries and explores in detail how best to respond to their special needs. And it examines the procedures that should be developed to provide the necessary protections for the elderly in a managed care system.
Download or read book Decoding Health Insurance and the Alternatives written by Lauren Jahnke and published by . This book was released on 2020-06-25 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Are you paying too much for health care or do you not understand all your options?The price of health care and health insurance is increasing faster than the general economy and wages, putting many people in a bind. This straightforward, non-partisan book examines various healthcare options and their pros and cons in light of continually rising costs, helping consumers to make informed choices on health insurance and ways to save money (with and without insurance). This book contains useful information and money-saving tips that everyone should know in order to understand their options and make their health care more affordable.
Download or read book Moral Hazard in Health Insurance written by Amy Finkelstein and published by Columbia University Press. This book was released on 2014-12-02 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the challenge of covering heath care expenses—while minimizing economic risks. Moral hazard—the tendency to change behavior when the cost of that behavior will be borne by others—is a particularly tricky question when considering health care. Kenneth J. Arrow’s seminal 1963 paper on this topic (included in this volume) was one of the first to explore the implication of moral hazard for health care, and Amy Finkelstein—recognized as one of the world’s foremost experts on the topic—here examines this issue in the context of contemporary American health care policy. Drawing on research from both the original RAND Health Insurance Experiment and her own research, including a 2008 Health Insurance Experiment in Oregon, Finkelstein presents compelling evidence that health insurance does indeed affect medical spending and encourages policy solutions that acknowledge and account for this. The volume also features commentaries and insights from other renowned economists, including an introduction by Joseph P. Newhouse that provides context for the discussion, a commentary from Jonathan Gruber that considers provider-side moral hazard, and reflections from Joseph E. Stiglitz and Kenneth J. Arrow. “Reads like a fireside chat among a group of distinguished, articulate health economists.” —Choice
Download or read book Fitness Vol II Lessons 46 90 written by Prodigy Books and published by Quantum Scientific Publishing. This book was released on 2023-07-02 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prodigy Books is committed to providing publisher-quality, low-cost, outstanding educational content to teachers, students, and parents around the world. This book is the second of two volumes in Fitness, containing lessons 46 - 90. Volume I: Lessons 1 - 45 Volume II: Lessons 46 - 90 This title is part of the Prodigy Books Textbook Series.
Download or read book Medicare written by United States. General Accounting Office and published by . This book was released on 2001 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regulating Insurance Markets written by Andrea Attar and published by . This book was released on 2021 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies an insurance market on which privately informed consumers can simultaneously trade with several firms operating under a regulation that prohibits cross-subsidies between contracts. The regulated game supports a single equilibrium allocation in which each layer of coverage is fairly priced given the consumer types who purchase it. This competitive allocation cannot be Pareto-improved by a social planner who observes neither consumers' types nor their trades with firms. Public intervention under multiple contracting and adverse selection should thus arguably target firms' pricing strategies, leaving consumers free to choose their preferred amount of coverage.
Download or read book Consumer s Guide to Shopping for Insurance from Your North Carolina Department of Insurance written by and published by . This book was released on 2010 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a consumer of different types of insurance, you may have insurance on your home, car, health and/or your life. However, consumers sometimes buy insurance without adequate planning , or without understanding what the marketplace has to offer. This guide has been provided by the North Carolina Department of Insurance (NCDOI) to help you make informed choices when shopping for insurance.
Download or read book Affordability of Long term Care written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 2001 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Health Insurance for Humans written by Benjamin R. Handel and published by . This book was released on 2013 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional models of insurance choice are predicated on fully informed and rational consumers protecting themselves from exposure to financial risk. In practice, choosing an insurance plan from a set of complex non-linear contracts is a complicated decision often made without full information on several potentially important dimensions. In this paper we combine new administrative data on health plan choices and claims with unique survey data on consumer information and other typically unobserved preference factors in order to separately identify risk preferences, information frictions, and perceived plan hassle costs. The administrative and survey data are linked at the individual level, allowing in-depth investigations of the links between these micro- foundations in both descriptive and choice-model based analyses. We find that consumers lack information on many important dimensions that they are typically assumed to understand, perceive high plan hassle costs, and make choices that depend on these frictions. Moreover, in the context of an expected utility model, including the additional frictions that we measure has direct implications for risk preference estimates, which are typically assumed to be the only source of persistent unobserved preference heterogeneity in such models. In our setting, we show that incorporating measures of these frictions leads to meaningful reductions in estimated consumer risk aversion. This result has both positive and normative implications since risk aversion generally has different welfare implications than information frictions. We assess the welfare impact of a counterfactual menu design and find that the welfare loss from risk exposure when additional frictions are not taken into account is more than double that when they are, illustrating the potential importance of our analysis for policy decisions.
Download or read book Adverse Selection in Insurance Contracting written by Georges Dionne and published by . This book was released on 2012 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Essential Guide to Health Insurance for Companies written by Isaac Feiner and published by . This book was released on 2019-03 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guide is about choosing and buying company health insurance for yourself, your family and staff. It's an important purchase and there's no doubt that if you are better informed and able to dispel any confusion you may have about the terms used and the options on offer, your ultimate decision can be made with greater peace of mind and lead to a happy, smooth sailing outcome for all involved.
Download or read book Informing Consumers about Health Care Costs written by M. Susan Marquis and published by RAND Corporation. This book was released on 1985 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
